What would a great economy look like?

Based on what statistics? Certainly not employment, the stock market or inflation.

 

"Already"?

 

The economy doesn't just... improve. It improves because the government does ... SOMETHING. Pass bills: like the AHCA, or bank regulation, or stimulate the auto industry (Obama).... or the infrastructure bill, or CHIPS or student loan fogiveness, or the inflation reduction act (Biden)...

Trump passed... NOTHING....Only tax cuts for billionaires. Which did NOTHING for the economy. We all received a check which generated a small uptick, but then receded after people spent it. After that... NOTHING. In the end, the biggest deficit in the country's history with NOTHING to show for it. This left us at the verge of a recession.

So if you want to know who DID what....you have to start by finding out who DID... something. Because Trump did NOTHING. He passed NOTHING. He did NOT act at all. So, whatever good happened during the Trump administration, it was not because of something Trump DID. Because he didn't DO anything.

 

So you have no statistics to back up your claim.

 

only in fascist/socialist government state. In democratic states the economy performs when people feel secure in investing, have good jobs, and pay low taxes.

Well no. not true. He drove unemployed down, including for women and POC. He drove the markets up over 35% and according to US Treasury his tax cuts benefited over 90% of those that actually PAID income tax and even some who didn't. He recovered 12 million jobs from April 2020 until took over (and only added about 9 million in his first full years.

See my comments above about actual data.

Pure, pitiful whining and ranting. For someone who brags about his research, it's plain to see you've done none.

 

President Biden's economy has passed Trumps during Biden's 3rd year

Without all the Trump noise

 

That's what the government is for. To make people feel secure in investing, create good jobs, but not have to pay all their earnings in taxes. Biden passed bills that did that. Trump passed nothing. Passing nothing means your policies are what your predecessor passed. Trump blew the advantages he inherited by giving tax breaks to billionaires who didn't need them, and accomplished NOTHING.

 

My definition of a great/wishful economy;

The private sector taking over the economy at a steady annual 2.5% GDP growth rate, and NO government economic/fiscal stimulus.

 

A great economy is one where the lower to middle class isn't getting crushed as they are in the current economy. The polling exhibits this.

Unemployment is bullshit to look at. You don't want high unemployment, but you also don't want people having to work 2-3 jobs while living with 2-3 roommates to make ends meet and that's what you currently have.

Inflation has crushed the lower to middle class. Stop touting current wage growth when the current wages are already so far behind. When you have to wait 3 years to brag about wage growth while they fell so far behind while you were waiting for your 'bragging' moment....you are polishing a turd.

Once again, the current poll numbers show how people feel about this economy....they feel it sucks.

 

You stated, "In Feb 2020, the unemployment rate was lower than now and the labor participation rate was higher than now. Both of those are more favorable for Trump than for Biden."

In the month you cite for the former president unemployment was 3.5 % there was one other month that tied that, and one was that was 3.6% .Every other month of Trump's Presidency was higher than that.
Biden currently has 3.7 (Dec., 23). In the last 18 months here are Biden's inflation rates:
2 months at 3.8
2 months at 3.7
6 months at 3.6
6 months at 3.5
2 Months at 3.4

The highest Dow Jones average during the Trump presidency was 29,438.42 The Dow Jones closed Friday at 37,800.

If you ignore covid and look at the first 3 years of labor participation Trump wins over the current rate by 1 percentage point.

To me it looks like there is a strong case that Biden has done just as well or even a bit better than Trump's best non covid scores.

 

The claim was that the Trump economy was bad. It wasn't. Those are all great unemployment rates, especially when coupled with the higher labor participation rates.

The Dow usually goes up every year. 37,800 after 29, 438 as about normal. Except the 37,800 is tainted with about 20% inflation which takes it back to about 30,000 and that is a miserable gain after three years.

In brief. The Trump economy was good. The Biden economy has not caught up with it. Most of Biden's gains were just gains over after a long period of Covid.

 

Close. Feeling secure in investing and banks ARE government responsibilities. Creating jobs is a private sector function mostly. Oh, and I almost bust a gut on your tax comment; government is almost constantly creating or raising taxes, fees and charges.

Biden passed bills that raised taxes, pumped excess money into the system causing crippling inflation and causing citizens to struggle from check to check to survive against inflation that has totaled 16% over Biden's first three years. Trump passed a tax cut that benefitted over 90% of people who actually PAY TAX (according to US Treasury numbers). He re-added or created 12 million jobs from the depth of the pandemic to the day Biden took over - and proceeded to add only 9 million in his first full year. Trump had ONE trillion dollar deficit - at the heigth of the pandemic - Biden has already rung on THREE trillion dollar deficits and is on a pace to ring up a TWO BILLION DOLLAR debit in FY 2024.

Again, I suggest you to more of that "research" you're so proud of in factual sources rather then sicophantic LW medial. Try BLS, or CBO or US Treasury rather than NYT, Wa Poo or White House news releases.

 

Trump's economy gave Biden's a big push; unfortunately, instead of skating ahead smoothly Biden tripped on his own skates and face planted on the ice.

 

Jobs are created when investors feel secure investing in them. And when there is enough money in the hands of the middle class creates needs for more services.

When Republicans grant tax breaks to billionaires, we can either stop educating kids, deflate the military, limit policing (including at the border... I know that's important to you), ... OR pay for those services on the backs of the middle class. Because Republicans don't care about those.

NOW do you understand the problem of giving such humongous tax breaks to billionaires like the ones Trump and Bush passed?

 

Yep.

Except again you lie about " humongous tax breaks for millionaires" Do more research - Trump's tax cuts benefited 90+ percent of those that actually PAY taxes. Maybe check out CBO's data that shows increased revenue after those cuts as well.

Here's a little factoid for you. The smallest deficits in the 21st century AND Clinton's tiny surpluses all came when GOP controlled, at least the House or BOTH houses, regardless of the President's party.

 

Got a key for the paywall?
3.6% unemployment, is not bad.
Unfortunately you have to ask "why?"
Things aren't too bad, actually. The only serious issue is due to federal spending creating 50% of the demand pushing federal largesse out into the private sector pushing inflation, albeit lower than before and negating the need to lower interest rates to help fight inflation and help re electability.
U6 (not looking for work) is still pretty high, BTW which tells me economic growth is "sectional" - high tech, A.I. in and of itself, medical, and subsidy propelled industries.
I am seeing no impact noted by 14 million illegal workers. And I have been flying over the southwest and south a lot and I see of new construction - people cashing out in high home price states, and buying else where. Old house = no real economic effect; new house = big effect mostly for red states.
So you aren't too far off the mark, but I'm not sure what is in there to sustain it.

 

Absolutely: Inflation Reduction Act, Infrastructure, Student loan forgiveness, consumer confidence, record high stock markets, inflation finally starting to be under control, a recession no longer likely ....

Quite a few of them pay local and federal taxes, most pay into medicare despite the fact that many of them will never claim benefits, GDP growth, ... Quite a bit of impact. I opened a thread a couple of years ago with all the numbers. But there were only about 11 million back then. So I'm sure it's likely better now, if you say there are 14 million.

The only thing there to sustain it is Biden. Elect Trump, and you'll see MORE tax breaks for billionaires, more squandering money on idiotic things like... a wall, and a President profiting from his position.

 

Illegal immigrants if they are paying SS are using fake or stolen SS numbers.
The only thing sustaining the deficit is the spending sucking investment out of the "real" economy.
Remember: every dollar not printed comes from the private sector.